Deon buys 5 pounds of cherries and pays 12 80 which is the cost of one pound of cherries

Movements of raw sugar futures in the last five years. Source: tradingeconomics.com Businesses in the sugar industry will rebound, buoyed by higher sugar prices and anti-dumping measures on some sugar cane products originating from Thailand. In February, raw sugar futures hovered at the 6-year high of roughly US 22 cents a pound set on February 27. Specifically, February's average raw sugar price was US 20.23 cents a pound, compared to US 18.87 cents per pound in January and US 18.93 cents in December 2022. According to the Food and Agriculture Organisation of the United Nations, the average sugar price was US 18.5 cents per pound during the first ten months of 2022. The Rome-based agency forecast that by 2029, the average sugar price will reach US 21.3 cents but the fact is that the price exceeded the figure in January. In the international market, raw sugar futures tracked by tradingecnomics.com were traded at US 21.14 cents per pound on Thursday, continuing the rally … [Read more...] about Sugar industry to recover this year

Vendors at An Dong Plaza in Ho Chi Minh City's District 5 hold up signs demanding a reduction in rents Thursday afternoon. On Tuesday its management approved a 30-35% cut in rents for this year, but the shopkeepers did not accept this, saying they wanted a 55% cut. Rents were raised by 35% last week. Vendors have shut down all 2,700 stalls. Signs on the doors say An Dong Plaza has not made a satisfactory cut in rents and the decrease must be 55%. The shopkeepers said they have made three formal requests to the management to waive rents this year and make a 30% cut from 2024 onward, and that the discount must be on the rate agreed in 2016 when the latest lease contracts were signed. Shops are closed as their owners strike for a reduction in rents. Before the Covid-19 pandemic began thousands of customers came to the mall every day to buy garments, footwear, cosmetics, and handicrafts. But … [Read more...] about An Dong Plaza wears deserted look as shopkeepers go on strike

Last year 440,000 cars were manufactured in Vietnam and 176,590 were imported. But imports from the Association of Southeast Asian Nations member countries, mainly Thailand and Indonesia, doubling the period before 2018. According to data from the General Department of Vietnam Customs, last year the two countries accounted for 144,703 cars, or 83% of imports, that cost US$2.5 billion. Foreign carmakers with factories in Vietnam import 80-90% of their cars sold in the market. Imports of cars and car parts are expected to skyrocket in the next 10 years when the import tax is gradually reduced to 0% under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the European Union-Vietnam Free Trade Agreement. "In the context of integration, if the Government and ministries do not quickly have appropriate policies and solutions to encourage and support the development of the domestic auto industry, Vietnam will become a market for foreign firms, and … [Read more...] about Vietnam at risk of becoming captive market for imported cars: industry ministry

The 15% tax on profits, which was approved by 136 countries in 2021, is considered the deepest overhaul of cross-border tax rules in decades. The purpose of the overhaul is to ensure that tech giants such as Apple and Google will not have an unfair advantage by booking their profits in low-tax countries such as Ireland. The tax applies to multinationals with total revenues of at least EUR750 million ($819 million) in two of the preceding four years. This means that a company that invests in a foreign country will have be taxed by that country by at least 15%. Vietnam, along with the United Kingdom, Japan, South Korea, and the E.U. plan to start collecting the tax next year. It is estimated that 100 multinationals will be affected by the tax, which is expected to yield an extra $220 billions in tax income globally. Nguyen Thi Thu Huyen, deputy director of publicity at Canon Vietnam, said that tax incentive is one of the key factors for the company to maintain its large-scale … [Read more...] about New global tax to diminish Vietnam’s FDI attractiveness